I'm not sure it warrants a speeding ticket.As you certainly...

I'm not sure it warrants a speeding ticket.

As you certainly know, at this stage most investors are valuing AMX on EV/oz basis and benchmarking against other W.African producers. Last year when the stock was pushing 50 or 60 cents, it was in anticipation of a maiden resource. I think you can take this scenario and apply it to the latest announcement. The last announcement suggested a few things:

a) a big budget so a lot of holes so a lot of ounces to come
b) they'll be drilling down dip from the current resource at Konkera and that, while more expensive, is essentially easy ounces. Especially (I'm not sure about this) if it's all RC.
c) the new tenement to the east of Konkera yielded some pretty extraordinary surface samples. While they've obviously picked the eyes out of the results, the fact that there are such bonanza grades present really is encouraging for early cashflow opportunities.

Those are the obvious takeaways. And I think people have just recalibrated to the idea that the next resource may be a multiple more than the current 1.2Moz.

I've heard it said that if they get to 2Moz they'll make a decision on PFS/BFS. I'm not sure that's the wisest move. I think if they believe there is much more ore there, that they should do their best to define it in the name of understanding the potential scale of any operation they decide to embark upon. In the meantime, their stock price will re-rate making future capital raises cheaper.